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the fiscal cliff tax hikes that are coming. let's faulk about this. we have igor volsky and guy benson. guy benson, i am glad they have won't up to this lousy medical device tax but did someone say minnesota where, wait, medtronic and st. jude medical are the biggest companies? they're the ones that make the equipment? and senator klobuchar and senator al franken are all of a sudden making a beef because it's in their state? where they been, guy benson, and when did they discover that taxes are job kimmers? >> i thought that wasn't the case at all. you're right. they didn't just wake up to this. let's be completely honest about what happened here. they knew all along that the medical device tax was not just a job killer but would really stifle medical innovation. we've heard this from people across the spectrum. the people involved in this industry who are making america the leader when it comes to world medical innovation, they're saying this is really going to put a crimp in what we're able to accomplish. now at the last minute, the 11th hours, you have 18 johnny come late live democrats,
the fiscal cliff. he is trying to head this off by bargaining with the president to keep the tax rates where they are now and provide revenue for rich people. in exchange mr. boehner wants the president to agree to serious reform to tax reform the biggest driver of the nation's debt. he wants to hire tax revenue and taxes on the rich. he has speak ennothing of entitlement. unreasonable? you bet. on top of it boehner is on attack for being a weak negotiator from the right. he is not a weak negotiator. he has a weak hand. >>> kelly wright is live in washington. hi, kelly. >> good morning to you ainsley. someone would hope so. three weeks from now americans will be celebrating a brand new year but it may be a year unof uncertainty if the white house fail to take action to avert the fiscal crisis or the cliff. president obama tock his message on the road speaking to auto workers to talk about the plan to cut taxes that will go into effect on january 1st if congress fails to act. >> what you need is a package that keeps taxes where they are for middle class families. we make some tough spending c
with the latest on the rapidly approaching fiscal cliff deadline of automatic tax hikes on everybody and what appears to be a stalemate in the negotiations. in his first interview since the election, president obama reiterated his demand that any deal must raise taxes on the highest earner. yesterday obama also appeared to showroom for flexibility on actually relowering those tax rates in the future. >> i don't think that the issue right now has to do with sitting in a room. the issue right now that's relevant is the acknowledgement that if we're going to raise revenues that are sufficient to balance with the very tough cuts that we've already made and the further reforms and entitlements that i'm prepared to make, that we're going to have to see the rates on the top 2% go up. and we're not going to be able to get a deal without it. p what i've suggested is let's essentially put a down payment on taxes. let's let tax rates on the upper income folks go up. and then let's set up a process with a time certain at the end of 2013 or the fall of 2013 where we work on tax reform, we look at what loo
of course and the prospect of increased taxes as we get closer to the fiscal cliff. looks like everybody's taxes are going up no matter how this thing is comes out. consumer spending accounts for more than 2/3 of economic output. especially important at this time of year of course when a lot of sectors in all of these areas have been struggling, here is a bit of good news. martha: okay. take it. bill: not a lot. if you're driving on the road, thanks to shrinking demand manned lower fuel prices gas is sinking like a stone. a drop of 34 cents in the past month. in st. louis, drivers paying just over $3. even l.a. is paying 3.68. which is below four bucks where they have been for a very long time. even further drops expected in the coming days. martha: a devastating loss this morning. jennie rivera, the mexican american singer on the verge of crossing over to this country in u.s. popularity is presumed to have been killed when a private plane crashed in monterrey, mexico. authorities have not confirmed her debt. her relatives say they have few doubts she was on board that plane. she was hea
gets to the fiscal cliff. >> reporter: mr. obama's new proposal lowered his request for tax revenue from $1.6 trillion in ten years to $1.4 trillion.trillion on tuesday the white house threw corporate tax reform into the mix, adding it to the already agreed upon push next year for reform of individual tax rates.dismisse boehner's described it as unrealistic and said the tax revenue was "a red herring." the top senate democrat doubted a fiscal cliff deal would be l cli wrapped in time for christmas. >> i think it's going to be extremely difficult to get it done before christmas. >> reporter: speaker boehner is meeting at this hour with house republicans. despite all the gloom the president said he remains confident a fiscal cliff deal will get done. charlie and norah? >> major garrett thank you. nancy pelosi leads the democratseads in the house of representatives. we're pleased to have her with this m us.good good morning. >> good morning. >> where are these negotiations? when they were bargaining over the grand bargain you gave the the president and your caucus did
democrats. "no signs of reaching a deal revealed." as part of this so-called fix -- fiscal cliff, what tax deductions would you give up? fort lauderdale, hello. caller: hello. good morning. i feel that i would be willing to give up some of my medicare benefits. i currently get free shoes and other benefits from medicare that i would be willing to give up. host: anything that you would be willing to give up on your taxes? items that you have in the past? caller: i would be willing to give up my charitable deductions. host: how come? caller: i feel that i give part of it to my charitable deductions. host: would you still make donations to charity if you could not write it off on your taxes? caller: yes, i would. host: thank you for your call. joe? caller: i would be willing to give up earned income credit and i liked what the last caller said about modifying the amount for charitable deductions. i think that sometimes the very rich use that to give to charities that actually benefit themselves. i also have a contingency, which would be to reform the bankruptcy act and remove those benefits f
like the fiscal cliff negotiations, immigration reform has become like taxes and spending. do you do it step-by-step, which is what the republicans like, because they'd like to show they are tough on security and there isn't a legal path to citizenship for illegal immigrants, or do you do the whole thing all together? if i were carl rove, which isn't something i imagine myself being often, i would knock on the door of olympia snowe and say what are your lessons for us? >> fun conversation. >> that would actually be a fun conversation. we hope that carl rove, if you're listening, takes that advice. >>> coming to the recent data, planned parenthood provides less than 5% of resources to abortion services, but that's not stopping republicans in their quest to defund the organization entirely. we'll head to the lone star state and take a look at the eye of the storm just ahead. >>> lauren wanted to introduce cabbage to mainstream america. she created mother-in law's kimchi. for more, watch 7:30 on msnbc. we are gathered here today to celebrate the union of tim and laura. it's amazing how
of these lawmakers, the countdown to the fiscal cliff. a series of tax increases and spending cuts due to kick in at the end the year. >> god bless us, everyone. >> reporter: speaker boehner offered the republican proposal this week and now he faces opposition from president obama. >> the speaker's proposal is out of balance. >> reporter: some in his own party are lining up against him. jim demint a tea party leader said speaker boehner's $800 billion tax hike will destroy american jobs and allow politicians in washington to spend even more. disagreements among republicans and democrats here on capitol hill is nothing new, but tuesday a republican aide told us the two sides aren't even talking. not surprisingly the white house disagrees. >> i can guarantee you conversations continue at different levels. and among different groups. >> reporter: both parties are ready to play the blame game in case negotiations fail. >> there's only one person out of 370 million americans who can sign something into law and that's the president. >> 60% of americans are asking the wealthy to pay more. >> reporter
, and fighting for people. >> let's focus on taxes for a moment. in the fiscal cliff debate, tax is a big part of that. where do you stand on that if you are anti tax? >> anti tax, but not anti common sense. it's obvious to me what the president is trying to do is the right thing to do. sometimes you have to have revenue in order to fill the hole. that's what president obama is trying to do and he's right on the mark. i support what he's doing. we have to watch spending too. common sense is really what i think americans want and what they believe in. what i believe in. and i think when you apply common sense to any issues, we can have common ground and move forward as a nation, do what's right and have a better future for all of us. >> governor crist, margaret hoover here. what you are saying sounds great, but republicans would say it sounds like political tunism at the cost of principal. you are becoming a democrat because there is no political future for you in florida as anything else. what do you say back to them? >> a lot of cynics in politics. and we recognize that. that's unfortunate. i
growth. we passed a bill a few months ago that prevents the fiscal cliff by saying no taxes will be increased, a bipartisan bill. all of those votes, were criticized for. they called us right wing nuts and extremists. we explain to the people what we want to do to get our economy moving again, but also to control spending in washington. and we were reelected with a mandate not only to continue to be in charge of the house, but to be the line of defense against the radical administration. i think we know what our task is. all but, for candidates -- all but four of the 30 candidates elected are talking about joining rsc. they were elected on these principles we believe in. i am comfortable with where we are positioned now, but i know it is going to be a tough ride ahead. we would not be doing this if it was not a mandate the people sent us to go do. >> something on all of our minds is the fiscal cliff. i would be remiss if i did not ask you both to weigh in on it in the following way. first, what is going on that we do not understand? number two, what should happen? number 3,
'm larry custody low. this is kwoez custody. all right. some possible optimism on the fiscal cliff. the gop seems to be in a strategic retreat and is likely to allow middle class tax cut bill to pass before december 31. now that's what my washington contacts are telling me. there are many bells and whistles. i believe that's likely. the president went to detroit today to send the fiscal plan and came out against the michigan right to work effort like he did in wisconsin and he's going to lose this one in michigan. meanwhile the economy and jobs are improving but the use of budget busting food stamps continues to soar. could the aggressive food stamp reason why? wait until you hear some of the radio ads. >>> proeb jumped head first into a right to work law today in michigan. eamon javers has the details. good evening. >> reporter: good evening. we are monitoring fiscal cliff talks. it's been radio silence from democrats and republicans in washington. they're sticking to preagreed upon talking points explaining that lines of communication are open. we don't know what it is speaker baner and b
extended. if the fiscal cliff debate is only limited to tax rates and deficit reduction, and not the debt ceiling, this will come up again. president obama once the debt ceiling to be part of this agreement. the reason why is simple, because that is where republicans have leverage in february. he needs republicans to extend the debt ceiling for the government to function with all going into default. republicans know this, and in theory they could separate the two to maximize their leverage. host: time for a couple more calls in this segment of the "washington journal," we will continue the unemployment insurance discussion in the following segment. laura is in louisville, kentucky, on the independent line. caller: good morning. what bothers me is when people say they actually can not find work and they have been on unemployment for 20 months, whatever they can get, and i will tell you my husband lost his job five years ago. he was with a company for 23 years. immediately we went into survival mode. we thought about what we could do to reduce bills, simplify our lifestyle in case he could
, the fiscal cliff, the dividend tax rate, a power company ceo will tell us about his biggest concern if a deal doesn't get done by the end of the year. >>> also, what the ceo of walmart thinks about that, as well. he had really explosive data. mike duke last night. we'll bring it to you. "squawk box" is coming back. what's next? he's going to apply testosterone to his underarm. axiron, the only underarm treatment for low t, can restore testosterone levels back to normal in most men. axiron is not for use in women or anyone younger than 18. axiron can transfer to others through direct contact. women, especially those who are or who may become pregnant, and children should avoid contact where axiron is applied as unexpected signs of puberty in children or changes in body hair or increased acne in women may occur. report these signs and symptoms to your doctor if they occur. tell your doctor about all medical conditions and medications. do not use if you have prostate or breast cancer. serious side effects could include increased risk of prostate cancer; worsening prostate symptoms; decreased spe
of taxes are kicking in automatically. there is so much focus on fiscal cliff and bush tax cuts that would expire. you have investment tax. this tax. three different ones. medicare surtax, that will be taken, everybody's taxes are going up no matter what happens, right? >> they're going up through obamacare. throw the fiscal cliff which could potentially raise taxes dramatically. that is big reason we see a lot of consumers aren't spending as much. a lot of companies are not hiring. you're not seeing unemployment fall. we don't know. this $63 again doesn't sound like a lot of money. i'm not going to be surprised next couple years if we see a lot more of these fees really sneaking up on us. i love the administration, say most likely will go away unless congress extends it. how much do we see it could end up being twice as much. martha: you can't see congress going, oh, my gosh, 2017, time to bring back the $63, it's done, not going to happen? thinking around the holiday thinking but know that will not happen. martha: anyone can find an example where congress said, you know what, we shouldn'
dragging its feet. we have a few numbers of days left before we go off the fiscal cliff and taxes are raised for everybody. so speaker boehner knows a caucus, a serious, mature sober leader. he knows what his principles are. he's a principled conservative, a mainstream businessman and knows what the issues are. the house should and is largely trusting him. >> and what do you think about that, hilary? should the democrats trust the president to close the deal behind closed doors? >> i think democrats mostly trust the president. i don't know what mary's talking about that the president has dragged his heels. he's been trying to get congress to deal with this issue for months and months. but having said that, neither of these guys i think have the full faith and credit of their caucuses to do anything and that's what is taking so long. no democrats are pressing on the president to be careful on what he cuts on entitlements and folks like me would like to make sure that the defense cuts, you know, are substantially a part of this package. republicans, you know, are making a big deal o
that there is additional tax revenue in any fiscal cliff deal, right? >> jon, no question about that. they have been consistent from the very beginning. the president ran on the upper income americans paying more taxes as part of this deal. we heard more from chuck schumer on "fox news sunday". >> we democrats realize that there have to be two sides to this bargain but we're not going back to what we did in 2011. we both revenues and cuts on the table and ended up with just getting cuts because the other side wouldn't accept the revenues. >> reporter: a lot of folks on both sides feel like this is critical week. we're getting close to the end of the year. you need to give lawmakers a chance to put whatever deal it nice legislative language and sell to constituents and ultimately vote on it and hopefully send it to the president's desk. jon. jon: we'll see what happens. not a lot of time left. mike emanuel, thank you. jenna: another u.s. drone strike delivering a blow to al qaeda. we're learning about this for the very first time today. pakistani intelligence reporting the strike late last week took
a fallback plan for the so called "fiscal cliff", which includes extending tax cuts for the middle class and resuming a fight over spending and taxes for the wealthy later. meanwhile, going overseas, nato makes a move on the turkish border with syria. military officials deny preparations for military intervention. protesters in egypt march on the palace as mohamed morsi flees. international and domestic news is all on the table for you this morning as we open up the phone lines. also, send us a tweet. or post your comment on facebook. or send us an e-mail. we will get back to that new york times story. first, some other headlines on the domestic front. here is the "washington times." also, sticking with the senate, the baltimore sun reporting this headline -- in politics, here is the denver post -- open phones before the first 30 minutes. we have a short show because the house is coming in at 9:00. steve in gaithersburg, maryland, a republican caller. caller: host: when did the republican party become the party that restricts poor? i understand the tax cut for the rich is important to so
on negotiations to avoid the massive tax hikes and spending cuts that we know as the fiscal cliff. why did frankie muniz have a mini stroke sat age 27 in the former "malcolm in the middle" star will join us to talk to us about the health scare. >>> new world order, asia returning to the power it last held in the middle ages, what this means for the u.s. >>> i'm okay. >> a ceiling collapses in the middle of an interview, a storm tears through the south. we'll have an update on the damage straight ahead. >>> we're rocking out this morning, juk lavell, the fifth rolling stone will talk about the stones tour, tuesday, december 11th and "starting point" begins right now. >>> welcome back, bob shrum, ryan lizza, from "the new yorker" john berman have a seat, christine romans sticking around to help us out. our "starting point" zipped lips on capitol hill, how rare is that. if silence is golden maybe we'll have a deal on the fiscal cliff crisis sometime soon. there's 21 days left before the tax hikes and spending cuts kick in to send us over the cliff or down that gentle slope as some like to call it. co
of you have -- it comprised of the broad description of the fiscal cliff whether it is the expiring tax cut provisions, the expiring tax cut extensions, and spending cuts as well. if you consider more, which of those would you consider having the biggest bang for the buck in terms of economic impact of those that we are discussing here today? >> it is a given that we will extend the current tax rates for taxpayers that make less than $250,000 on an annual basis. that is absolutely necessary. when you consider the other things that are happening -- in terms of the bang for the buck, the emergency unemployment insurance program is very effective. it is small in the grand scheme of things. cbo is estimating it would costs per calendar year about $33 million. but the economic opportunity for job growth compared to the unemployment rate would be measurably more than that. we are down to go to million people in the program. it is falling each year. i expected to fall even more than that in the next year. there are also limits to how much emergency you can collect. there has been some good wor
what happens if we go off this fiscal cliff. it's a spending decision and a tax decision, but i list them both up here. this chart comes from the congressional research service. a couple interesting things i want to point out here. first and foremost, if we do nothing, tax increases of about $400 billion, there are going to be spending reductions of about $102 billion, there are some other changes that happen at the end of the year that aren't associated with policy decisions, at the end of the day we change the scope of our deficit by about $607 billion. if we do nothing, that's what makes this such a hard issue to grapple with, mr. speaker, if we do nothing, if we reach no agreement, changes that happen automatically and burden us all in different ways, will create $607 billion for the u.s. treasury that we didn't have before. and that's only half of the annual deficit. you see all the pan damone yum that -- pandemonium folks are describing, all the frightful words used to describe the fiscal cliff, if we roll over that fiscal cliff and all of those bad things come to bear, the tax
cliff. >> so obviously, republicans are trying to change the conversation from taxes to cuts. what do they want? >> well, they want entitlement reform and what we've seen is that the white house has moved a little bit. the president seems to be open to some form of entitlement reform, maybe not what john boehner wants, but they have said in the last couple of days that they will do corporate tax reform. so we are seeing some movement from the white house, but nothing yet from the house republicans. >> all right. john boehner just came to the microphone. he's just met with his caucus. let's see if he has anything new. >> -- the president's plan to avert the fiscal cliff still does not meet the two standards that i laid out the day after the election. his plan does not fulfill his promise to bring a balanced approach to solving this problem. it's mainly tax hikes. and his plan does not begin to solve our debt crisis. it actually increases spending. our plan meets these standards. it cuts spending, paves the way for real job growth in our country. in the five weeks since we've signaled o
that gives workers the right to not pay dues. >> steve: washington can't find a solution to the fiscal cliff . but someone who fixed budgets in the past know it is simple. >> if i raise taxes again i will have to do it in two or four years . people are going to leave. >> steve: find out how america's mayor did it straight ahead. straight ahead. feel a cold coming on? gretchen, you will be better in no time. we'll drink to that. >> you will be better in no time and all of my teases will rhyme today. "fox and friends" starts right now. ♪ ♪ "fox and friends". >> steve: ho, ho, hompt look who is here today eric boling. >> gretchen: you get your own personal lurch. >> eric: good to be here. >> steve: you will find out how booze, beer and wine can make you healthier. the news we have all waited for. >> gretchen: yeah, a lot of people waking up with a headache. now it makes sense why i drank so much last night. overnight a developing story. a medical chopper went down last night leaving three people dead. the chopper which is reggistered to rock ford memorial hospital it went down in a field .
in the fiscal cliff crisis. it's getting quiet on capitol hill. 21 days remain before the tax hikes and spending cuts kick in, and congress breaks for the holiday, at least they are scheduled to, on friday. this is what you need to know. the president on the road pitching his tax plan to workers at a truck plant in michigan. house speaker boehner were conducting behind the scenes talks with the white house. and the posturing and finger pointing in washington suddenly stopped. we have more from washington. the sounds of silence may be the sounds of progress? >> potentially. we hope so. we don't really know. we're forced to read the tea leaves essentially, john, because neither side is giving details about the substance of discussions. let me read a statement from john boehner's press secretary. "discussions with the white house are taking place, but we have no detail to share about the substance of those conversations. the republican offer made last week remains the republican offer and we continue to wait for the president to identify the spending cuts he's willing to make as part of the balance
and the fiscal cliff. republicans want a melt on xwiemtment and tax reform from the president. democrats insist this will not happen until the gop agrees on a tax hike. senator dick durbin saying no deal on the debt without a tax hike of the wealthy. >> i can't tell you, i don't want to do it, the president doesn't want to do it, but we need to solve the problem been we cannot allow the reckless position to drive this economy into another recession. >> some suggesting that it might be better to cave to the president now on taxes and keep up the fight on spending. >> if we were to pass, for instance, raising the top two rate and that's it, all of a sudden we do have the leverage of the debt ceiling and we haven't given that up. >> meantime, one influential voice says enough is enough. >> that's like betting your country. there's something terribly bizarre and juvenile about that is to think your party comes ahead of your country. i don't go for that at all. >> that, of course, was alan simpson, the other half of simpso simpson-bowles. erskin bowles will join us this morning, as well. if you have
to be done? >> i totally agree. the thing that's depressing about the fiscal cliff plan, we will change the tax code, change this, a tax on gas to help the energy industry, all this stuff has receded into the mist and all we're trying to do is get a deal and be done with this. it is sad. in the beginning of a second term, you should be trying to do big things. >> politics often gets in the way. these guys agree behind closed doors what should be done but nobody wants to step out on the ledge and say it publicly. >> right. you have a polarized congress. at this point, both sides think the other side is not on the level and they're interested in taking the partisan political position than accomplishing a bipartisan result. the good thing is high skilled immigrants. hard not to find someone on both sides that don't think you should allow folks that have expertise in science and technology into the country. instead of doing it, both sides use it as a lever in the immigration debate and keeps getting spooled up inside that debate and nothing gets done. >> haven't the republicans been passing
topic once again, the fiscal cliff. joining us here is stan collender and douglas holtz- eaken. what is happening? what are the two talking about. guest: the nature of the tax increases, how much, and on the other side, what kind of entitlement reforms as the president willing to offer? that has been going back and forth for quite awhile now. there are talking about the same basic issues. host: one of the shore signs of action in washington, we have heard there is a possibility that they could come back after christmas. guest: i have been telling clients since september we were going over the cliff. i was not sure there was a sign it or coming back before christmas. this last-minute deal of some time, it could easily be approved -- the house and senate do not need to be here for this because it will not be the big, big deal. this is not the grand compromise they are talking about here there is not enough support to do the technical things. this could be a simple package they do at the last minute. host: even if the white house and john boehner agree to a deal, congress may not pass i
a bill just a few months ago that prevents are the fiscal cliff by saying nobody's taxes will be increased. all of those votes we were criticized for. they called us right-wing naughts. we explained to the people of the country what we want to do to number one get our economy going on and get our economy going again. we were re-elected with a mandate, not only to be in charge of the house, but to be a line of defense against a radical administration. i think we know what our task is. if you look at r.s.c. strength, and i don't think it's ever been stronger in terms of numbers and resolve. that will be our challenge because we will be tested. because you have so many members that are coming back that have been through this fight, that have been afact for the things we fought for in the last congress, but also the candidates that got elected, over 30 candidates, all but four, paul teller tells me, all four have expressed an interest in joining r.s.c. so you got a lot of people that ran in a tough environment and got elected talking about these conservative principles that w
need tax reform. immigration and tax reform post the fiscal cliff will create a legacy and may see congress doing something. >> that is why it is so important that they figure out a way to come together before the end of the year hopefully. if the environment is poisoned like it was after the stimulus, after the health care debate, the next four years will be ugh low. >> that's true. the higher number of women increases the chances. we will see. >> i saw the women here smiling. we were talking about how collaborative they were. the guys, not so much. >> we don't smile. i agree. the more women the better. i'm agreeing with you. can i say nothing? i said the more women, the better. i'm agreeing with you. the more women, the less self destructive egos and getting to a deal. do you have a problem with that. >> no,i don't. >> go with it. i give up. >> all right. still ahead, hollywood mogul joins us on set and author sebastian younger will be here. more morning joe in a moment. ♪ for over 40 years, we've brought our passion for fine coffee and espresso to people everywhere. but one pl
he was 2% of americans. but that "fiscal cliff" deadline is less than four weeks away and still no deal between the president and republicans. cbs 5 political reporter grace lee on what this gridlock could cost californians. >> reporter: basically, it could cost us billions. the daily democrat estimates that if no deal is reached and we go over the "fiscal cliff," our state could lose out on $4.5 billion of federal money and lose 200,000 jobs. and this can hit the lower middle class with a one-two punch a combination of unemployment and fewer social safety nets. >> they want us to close on wednesday at noon. >> reporter: a social security employee for 30 years is joining fellow federal workers across the u.s. to spread the word the "fiscal cliff" is looming and at stake social security benefits for millions. >> they seem to go for the people who had the least political pull, in other words poor and disabled and people here in east oakland. >> reporter: like this social security recipient who relies on every federal dollar. if these benefits were cut, who would this affect you an
taxes just because congress can't end this fiscal cliff fiasco. >> you might have misunderstood the question. what do you think the mom kz do? what do you think, you know, families can do or should be doing to try to help the situation, obviously, because you've got some people who argue, well, you know, maybe there ought to be major cuts when it comes to medicare or medicaid or reforming social security, that kind of thing? >> well, we absolutely 1150% are hearing from moms across the country that it is not the time to cut medicaid. it is not the time to cut medicare or social security. one in three kids are receiving their health care through medicaid, and so we don't want to see any kind of bargaining or putting on the table of anything that takes health care away from kids because, guess what, that does not help taxpayers in the long run. when we don't give kids the care they need, we end up autosing more taxpayer dollars in the long run to fix later health strobz. we heard stories from people like ann who shared her 4-year-old son has autism and he is getting help from medi
% as part of a larger fiscal cliff deal. in a conference call today, their chairman at the business roundtable said, some executives are unhappy that we want to even mention revenues or taxes but he said everybody's got to feel a little bit like they are getting nailed and then we will know if we've got a deal. white house officials met with this group and also helped them get to this place. they said, bottom line, they knew that they thought their prospects deal was grim and this was a step they had to take to help both sides come to a deal. >> maybe it will help because a lot of these guys are very, very influential. speaking of the fiscal cliff, jessica, what did the fed chairman ben bernanke say about these current negotiations? >> well, bernanke is the man credited with coining the term fiscal cliff. he did it back in february as part of testimony before congress. bernanke was speaking at a press conference today and he was asked two things. one, does he see impacts from the fiscal cliff, the lack of a deal, is it already rippling through the economy in? he said, yes. that's wh
. ♪ >>> it's a brand new week, and with the fiscal cliff just 22 days away, the president is on the move heading to michigan to rally autoworkers' support for higher taxes on the wealthy and greater investment in u.s. manufacturing. the president traveled to a suburb of detroit touring an engine plant that's announcing a $100 million expansion in production and jobs. and even as the president touted that economic bright spot, he renewed his case to extend tax cuts for 98% of americans that are due to expire at the end of the year. >> how many of you can afford to pay another $2,200 in taxes? not you? >> no! >> that's a hit you can't afford to take. and by the way, that's not a good hit for businesses either. >> the president's urgent push come as the white house and congress enter the deadline phase in their negotiations to get a deal passed by next friday, the last day congress is in session. president obama and house speaker john boehner know they have to reach agreement this week if there's to be a deal, which is why they met behind closed doors on sunday. spokesmen for both men say t
for the "fiscal cliff." the deadline for the president and congress to find a way to avoid tax increases and spending cuts is 25 days away. president obama made a special point to sit with a middle class family in virginia this afternoon. he was trying to offer an example of who would be hurt by the republican tax proposal. >> for them to be burdened unnecessarily because democrats and republicans aren't coming together to solve this problem gives the sense of the costs involved in very personal terms. >> republicans are standing behind their counter-offer to chose tax loopholes and limit some deductions. they say the president needs to deliver a new plan that they can agree on and soon. it's also important to note that congress is scheduled to adjourn december 21st and the president is supposed to be headed to hawaii for vacation on december 17. >>> after doing some downsizing starbucks is back to brewing up some expansion plans and that includes another san francisco store. at market and sanchez. cbs 5 reporter mike sugerman tells us some small businesses in that area are trying to gri
regarding the fiscal cliff. at this time nbc cannot confirm any specific details within the offer. it was sent over this afternoon. speaker boehner's spokesman said, quote, we sent the white house a counteroffer that would achieve tax and entitlement reform to solve our looming debt crisis and create more american jobs. that's all we know. dana milbank, they say it's good. they said it will solve our problems. they won't say what it is. explain. >> well, look, we're still in the fairly early stage of posturing here, and nobody can strike a deal until they get closer to it, until their feet are to the fire. >> when do you say the fire begins? >> nobody can make any prediction for sure -- >> try. >> they could hammer this out in three hours if they really wanted to. >> that's right. >> but if they don't wait until the very end of december or even go over the cliff -- >> i think it's 21. i'm going to bet on -- what's your hunch about this, ron reagan? you're here -- i think they're going to try to get it done by christmas just for efficiency's sake and not to scare the horses. that's
the fiscal cliff. republicans and democrats have been deadlocked on how to stop tax hikes and spending cuts that are set to kick in at the beginning of the year. >>> dallas cowboys defensive lineman josh brent has been released from jail after posting half a million dollars bail. he is being charged in the death of his teammate and close friend jerry brown. police say he was drunk awhen h wrecked the car that killed brown. >>> morsi rescinded much of the de krch decree. a disputed draft of the constitution for the country. >>> mandy drew is at the new york stock exchange. good morning to you, mandy. >> good morning, natalie. lots of headwind from overseas, political shakeup in italy and sharply slowing down chinese export growth, keeping u.s. traders on edge not to mention the vagaries of the fiscal cliff. markets move with progress or lack of progress as the case may be. the congressional budget office says we could be back in recession the first half of next year if a deal is not reached. those are things they're watching. >> mandy drury at the new york stock exchange, thanks. >>> someone
over the fiscal cliff and then run into the debt limit in february. that would be a puriic victory. >> vus not goiit's just not goi happen. tell me, because you know these numbers better than anybody, other than people sitting in the white house that have looked at the very latest, but it seems like 37%. we're starting to hear that more, and both sides may coalesce around that eventually. let's say we change the rates to 35% and 37% and you eliminate deductions, not the home mortgage because we're not going to get that. we're probably not going to get charitable. can you say $1.2 trillion if that's where we compromise and new revenues. >> capital gains, dividends, estate. >> if you're more aggressive. >> about half theway. >> let's say you aggressively go on capital gains, dif evidends >> you start to get close. >> david ig nanatiuignatius, ar to have a deal? you know washington. >> my guess is we are going to have a deal just because the stars have now been in alignment. i've been struck by the way president obama has taken lead of his own party and himself been the negotiator, pu
-off. but there was no outward sign of movement toward a fiscal cliff agreement. and egypt's president morsi insisted he would not let protesters overthrow his regime, after a night of violence that saw seven killed and hundreds injured. online we mark the passing of a great modernist architect. hari sreenivasan tells us more. >> sreenivasan: brazilian oscar niemeyer's buildings had a simple yet bold style. his designs left a mark on cities and architects worldwide. he died yesterday at the age of 104. we have a slideshow of his works in the capitol, brasilia and elsewhere. plus, paul solman takes viewers' questions about the pitfalls of investing in bonds. he explains in making sense. site newshour.pbs.org. >> brown: and that's the newshour for tonight. i'm jeffrey brown. >> woodruff: and i'm judy woodruff. we'll see you online. and again here tomorrow evening with mark shields and david brooks among others. thank you and good night. major funding for the pbs newshour has been provided by: and with the ongoing support of these institutions and foundations. and... this program was made possible by the corpora
cliff comes, then $600 billion in automatic tax increases and spending cuts will kick in. that could affect a lot of programs in this room. that, wolf, is going to lead a lot of voters, democrat and republican, unhappy. >> tom foreman. dramatic way of explaining what's going on. love that virtual studio he's got over there. thank you. >>> new clues potentially uncovered in a deadly decades old mystery haunting a reform school. you'll find out what researchers think they have found. that's next. i put away money. i was 21, so i said, "hmm, i want to retire at 55." and before you know it, i'm 58 years old. time went by very fast. it goes by too, too fast. ♪ but i would do it again in a heartbeat. [ laughs ] ♪ ♪ [ male announcer ] with a select terrain dial that adjusts the jeep grand cherokee's performance for specific weather and road conditions... ♪ ...even heavy snowstorms... won't keep you from getting to work. our apologies. ♪ >>> researchers may have unkfred shocking new evidence of a mass grave at a now closed florida reform school. where years ago family members say d
of a fiscal cliff. we did not arrive there by not paying enough taxes. the federal government spends insane amounts of money and even by reducing us all to serfs, the taxes will not cover the spending. well said. here's jerry from lamar. she said, please stop spending our money. walk away from the table if they're not willing to stop wasting our hard-earned money. reform the entitlements and lower the taxes. nothing else in my opinion is acceptable. do not go back to the clinton era. that administration led use in a recession and do not raise the inheritance tax. and then listen to this, she said, i am from a family of farmers. that will kill our family and many others and make it impossible to keep farms that have been in our family for generations. that is the most unfair tax there is. this country will not survive more blows to small business and the middle class. stop the insanity and stop it soon. and finally from patrigsa in jefferson city, she said, i want to voice my opinion on what's happening in washington right now. politicians have put us in this mess with excessive spending. i
even more if the politicians bickering in d.c. push the country over the fiscal cliff. he'll be fine either way. but we're not so sure about that worker caught on tape celebrating in a maryland gas station. remember him? everyone thought he had the winning ticket. it turns out, he didn't have the goods. mr. good did. for "good morning america," ryan owens, abc news, dallas. >> had some fun with that. gets to pay those taxes, huh? >> would you -- arizona does not require you to reveal yourself. would you? >> no. >> would you stay anonymous? >> yes. >> i would. >> we have to move on. there's no way any of you could be anonymous if you won. forget about it. >> all right. >>> neither can these dogs right here. we showed you these dogs last week, learning to drive. that was hard enough to believe. but they have taken to the racetrack, all to encourage more people to adopt rescue dogs. abc's nick watt went along for the amazing ride. >> reporter: this could be the beginning of the end for human kind. until now, we were the only species to have ever driven a car. that's porter, a bearded co
right now. >>> our country will be heading over the fiscal cliff that we ourselves dug and put in our way. it's the set of automatic spending cuts and tax hikes that can only be averted if our nation's leaders are able to display bear bones competence and middle school-level maturity. so is there a deal? >> there's, of course, no deal. >> of course! is there a prospect for a deal? >> there's not a prospect for a deal. >> of course! but the ongoing talks. >> there aren't even very many talks going on. >> you're killing us! give us something. >> but for the first time, there are numbers on pieces of paper from both sides. >> numbers on paper! >>> good morning. it's wednesday, december 5th. welcome to "morning joe." live in the nation's capital. this is exciting. and you know, i said, let's do a show from washington, d.c., because they get so much stuff done there. it's like silicon valley. and going there when steve jobs was really bringing apple to the forefront -- >> a happening place. >> it is. it's where things happen. that's why we're here, steve rattner. >> washington is the place
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